By Robert B. Roque, Jr.
There’s a host of untold stories about the struggles of the print media industry in the 21st century. Long before I walked away from the editor’s chair of Tempo nine years ago, newspaper stands had been vanishing from street corners.
Thanks to old folks like myself who love the feel of paper and the certainty of news and facts set in black and white, we still have the “Big 3” dailies and significant others in national circulation. But big as they come in mastheads and reputation, newspapers per se – especially in the provinces – have been struggling to survive. Many have folded up and, sadly, even their patrons had been too busy with their smartphones to notice.
One of the big reasons for this is that ads that fuel print media production have shifted to digital platforms. This year, it was reported that 55.7 percent of the ad market is already captured by digital advertising. For newspapers in the Philippines, the share of advertising revenues is down to 5.8 percent.
Last week, groups of stakeholders in next year’s elections came together for a virtual meeting to discuss how well-prepared voters are to pick the best leaders for our country. The biggest takeaway from that forum is that good choices could only come from an enlightened electorate – one that forms a decision based on truthful and reliable information about candidates.
I dare say that this is a cue for voters to follow traditional media as a source of information. And among traditional media, I’d stick my neck out to say that newspapers are held to the highest standard of journalism. Thus, one can rely on a newspaper or a variety of them as the most accurate news source.
Having said this, Firing Line believes that government should throw the print media industry a life vest – one big enough for its 6,000 workers. Print publications have been bleeding out, especially since the pandemic. Yet, they would be playing an essential role in helping Filipinos make a better-informed, even an enlightened, choice when they troop to the polling stations.
So, I join the United Print Media Group Philippines (UPMG) in calling on Congress to put all its muscle behind the proposal to grant the print media industry some form of tax relief and suspend value-added tax (VAT) on key raw materials such as paper and ink.
I applaud Pangasinan Rep. Christopher V.P. De Venecia for being the first to support the call to lower corporate income tax rate of 15 percent for the print industry against the 25 percent called for under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. He also backs the proposed tax assistance package, including a tax holiday and refundable tax credits for print subscribers and advertisers.
There’s little time for Congress to make this happen, so I hope our lawmakers act quickly.
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SHORT BURSTS. For comments or reactions, email firingline@ymail.com or tweet @Side_View. Read current and past issues of this column at http://www.thephilbiznews.com
